Bengaluru-based ride-hailing main Rapido reported working income of Rs 934 crore in FY25, a year-on-year improve of 44% from Rs 648 crore within the earlier fiscal, based on its consolidated monetary statements filed with the Registrar of Firms.

Together with curiosity earnings of Rs 69 crore from investments, the corporate’s complete earnings stood at Rs 1,003 crore for the 12 months.

Rapido’s income mannequin continues to pivot round subscriptions and diversified service traces. Subscription earnings from captains and customers buying trip passes and platform advantages surged practically 14-fold to Rs 275 crore in FY25, rising as one of many fastest-growing parts of its high line.

The corporate follows a zero-commission, subscription-based mannequin for three-wheeler and four-wheeler cabs, whereas persevering with to cost commissions on bike taxis. Platform commissions from two-wheeler companies generated Rs 277 crore in the course of the 12 months, however declined 23.5% year-on-year.

The autumn comes amid regulatory uncertainty in key markets similar to Karnataka, Rapido’s largest ride-hailing state, the place the corporate has shifted bike taxis to a lead-generation-only mannequin. Regardless of the decline, commissions nonetheless accounted for 29% of working income in FY25.

Supply companies emerged as the only largest contributor to income in the course of the 12 months. Revenue from meals and parcel supply rose 28.3% year-on-year to Rs 340 crore, marking a transparent shift from FY24, when passenger-related companies shaped the biggest share of the corporate’s high line.

Income from passenger transportation companies, the place Rapido instantly operates automobiles, stood at Rs 21 crore. Promoting income, largely from sponsored listings on the app, got here in at Rs 16 crore, whereas different working earnings, primarily parking charges recovered from drivers, was reported at Rs 5 crore.

On the price facet, supply prices and captain incentives remained the biggest expense merchandise at Rs 500 crore, although the 8.7% year-on-year improve was slower than income progress. Worker bills rose 20% to Rs 207 crore. Promoting and promotional spending elevated sharply to Rs 252 crore as the corporate pushed consumer acquisition and market enlargement. Analysis and improvement expenditure for the 12 months stood at Rs 108 crore.

Complete expenditure elevated to Rs 1,261 crore in FY25, in comparison with Rs 1,066 crore in FY24. The corporate narrowed its web loss by 30.5% to Rs 258 crore from Rs 371 crore a 12 months earlier. Nevertheless, unit economics stay beneath strain, with Rapido spending Rs 1.35 for each rupee of working income earned.

Rapido has raised round $575 million thus far from buyers together with WestBridge Capital, TVS Motor, Swiggy, Prosus and Accel. A number of buyers have partially exited via secondary transactions over the previous 12 months. Swiggy lately bought its whole practically 12% stake within the firm for about Rs 2,400 crore to Prosus and WestBridge Capital.

In response to Tracxn, Rapido was valued at $2.3 billion on a post-money foundation as of September 2025.